Manz AG
Manz AG: Green light for implementation of the major CIGS orders
DGAP-News: Manz AG / Key word(s): Miscellaneous Manz AG: Green light for implementation of the major CIGS orders – Initial downpayment of EUR 64.3 million received for CIGS orders – Cash flow positive realization of orders thanks to corresponding downpayment agreements
Manz AG had received both major orders at the start of 2017 within its strategic cooperation with its Chinese partners, the Shanghai Electric Group and the Shenhua Group. The aim of the cooperation is to speed up the development of Manz’s CIGS technology, and to boost the marketing of it also in China. Two joint enterprises were founded for this purpose: while NICE PV Research Ltd. focuses on R&D activities, Suzhou Manz New Energy Equipment Co., Ltd. is now solely responsible for the marketing activities in China, and it will provide the engineering services for future projects as well as providing support in their start-up phases. Both companies already started their operations in April. Manz AG had already made all the necessary preparations over recent months in anticipation of the agreed downpayment, so the implementation of the orders can now begin straight away. Manz AG’s sites in Germany, Slovakia and Asia are involved in the work on the orders. Dieter Manz, the CEO and founder of Manz AG, comments as follows: “The receipt of the payment gives us the green light for executing the first major projects and for generating the corresponding revenues thanks to our unique cooperation with our Chinese partners. We are delighted that we are now setting to work, and we think there are good prospects of further attractive follow-on orders resulting from our cooperation in future.” Manz AG – passion for efficiency The company is headed by its founder, Dieter Manz, and has been listed on the stock exchange in Germany since 2006. It currently develops and produces in Germany, China, Taiwan, Slovakia, Hungary and Italy. It also has sales and service branches in the United States and India. Manz’s motto “passion for efficiency” sums up its promise of production systems with the highest levels of efficiency and innovation for its customers in dynamic, future-oriented industries. With its comprehensive expertise in developing new production technologies and related machines, the company contributes substantially to reducing production costs for end products and making them accessible to large groups of buyers the world over.
30.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Manz AG |
Steigäckerstr. 5 | |
72768 Reutlingen | |
Germany | |
Phone: | +49 (0) 7121 9000-0 |
Fax: | +49 (0) 7121 9000-99 |
E-mail: | info@manz.com |
Internet: | http://www.manz.com |
ISIN: | DE000A0JQ5U3 |
WKN: | A0JQ5U |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |